The US Securities and Exchange Commission (SEC) will set up a new office for cryptocurrency applications.
SEC official Cicely LaMothe stated that the office will be located within the Corporate Finance Division.
SEC To Open Office For Crypto
Speaking at a conference in Washington, SEC official Cicely LaMothe said the planned office is needed to handle crypto-asset filings, many of which are viewed as securities. A large part of the cryptocurrency industry is extremely uncomfortable with securities definitions.
According to LaMothe, the SEC still needs someone to run the office that will open so crypto companies can consult and file.
Gensler Talks About The Crypto Industry
SEC Chairman Gary Gensler discussed the cryptocurrency industry in his statement today.
Making various statements about crypto companies, Gensler stated that crypto money brokerage companies should register with the SEC.
Saying that he sees the SEC as a powerful authority overseeing the crypto money industry, Gensler stated that they will use the authority given by Congress to protect the public in the best possible way.
